(RTTNews) – The Singapore stock market on Thursday ended the five-day winning streak in which it had risen more than 60 points or 1.7 percent. The Straits Times Index now sits just shy of the 3,850-point plateau although it’s expected to bounce higher again on Friday.
The global forecast for the Asian markets is upbeat on easing trade concerns. The European and U.S. markets were mostly higher and the Asian bourses figure to follow that lead.
The STI finished modestly lower on Thursday following losses from the property stocks, trusts and industrials, while the financial sector was mixed.
For the day, the index sank 17.15 points or 0.44 percent to finish at 3,848.22 after trading between 3,839.14 and 3,875.41.
Among the actives, CapitaLand Ascendas REIT stumbled 2.23 percent, while CapitaLand Integrated Commercial Trust slipped 0.48 percent, CapitaLand Investment tanked 2,33 percent, City Developments skidded 1.02 percent, DBS Group collected 0.77 percent, Genting Singapore and Oversea-Chinese Banking Corporation both shed 0.68 percent, Hongkong Land sank 0.79 percent, Keppel DC REIT retreated 1.82 percent, Keppel Ltd lost 0.59 percent, Mapletree Pan Asia Commercial Trust dropped 0.83 percent, Mapletree Industrial Trust plunged 3.92 percent, Mapletree Logistics Trust plummeted 4.42 percent, SATS eased 0.34 percent, SembCorp Industries declined 1.06 percent, Singapore Technologies Engineering slumped 1.05 percent, SingTel fell 0.52 percent, Venture Corporation advanced 0.91 percent, Wilmar International tumbled 1.94 percent, Yangzijiang Shipbuilding surrendered 2.29 percent and Comfort DelGro, Thai Beverage, Seatrium Limited and Yangzijiang Financial were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Thursday and remained firmly in the green throughout the trading day.
The Dow jumped 254.48 points or 0.62 percent to finish at 41,368.45, while the NASDAQ rallied 189.98 points or 1.07 percent to close at 17,928.14 and the S&P 500 gained 32.66 points or 0.58 percent to end at 5,663.94.
The strength on Wall Street came after President Donald Trump unveiled the framework of a trade agreement with the U.K.
Trump claimed the deal includes billions of dollars of increased market access for American exports, especially in agriculture, and will see the U.K. reduce or eliminate numerous non-tariff barriers.
In economic news, the Labor Department said first-time claims for U.S. unemployment benefits saw a modest decline last week. Also, the Labor Department noted a pullback by U.S. labor productivity in the first quarter of 2025 along with a sharp increase by unit labor costs.
Crude oil futures rallied on Thursday following news of the trade agreement between the United States and Great Britain. West Texas Intermediate crude for June delivery surged $1.84 or 3.2 percent to $59.91 a barrel.
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